Reform UK MP Nigel Farage Proposes Strategic Bitcoin Reserve and Tax Cut to Make UK a Crypto Hub

Reform UK leader Nigel Farage has announced a comprehensive plan to transform the UK into a "crypto powerhouse" if he is elected prime minister. Farage made the announcements at the Bitcoin 2025 conference in Las Vegas.

The initiative includes a draft bill, the Crypto Assets and Digital Finance Bill, aimed at reducing the capital gains tax on cryptocurrency from 24% to 10%, establishing a two-year regulatory sandbox for financial services, and banning service discrimination based on payment methods.

Farage's proposal also includes the establishment of a Strategic Bitcoin Reserve within the Bank of England, aiming to position the UK as a global leader in cryptocurrency and digital finance. He emphasized the need to protect individual rights to control their own money, free from arbitrary decisions by banks, and highlighted the issue of debanking, promising to make it illegal for banks to close accounts due to crypto transactions. Farage noted that last year, 400,000 people in the UK were de-banked.

In a bid to engage younger voters, Farage criticized the current government's approach to cryptocurrency, noting that seven million people in the UK hold crypto assets, with one in four under 30.

Reform UK has also become the first political party in Britain to accept donations in Bitcoin and other cryptocurrencies.

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